CAPITALSTARS INDIAN EQUITY MARKET WRAP UP – 23 OCTOBER 2019

MARKET WRAP UP

Closing Bell: – Sensex ends above 39K, Nifty moderately higher.

Sensex ended 94.99 points higher or 0.24 percent at 39058.83 and the Nifty closed at 11604.10. About 1215 shares have advanced, 1247 shares declined, and 197 shares are unchanged. PSU Banks and auto stocks gained the most while infra stocks including Bharti Airtel dragged.

HEADLINES OF THE DAY

HDFC Life posts 7.3% yoy growth in PAT for Sep quarter The Company expanded its market share in the private sector to 15.2% based on Individual WRP, on the back of yoy growth of 35%

Bajaj Auto reports 22% yoy rise in net profit; stock gains 3% However, the company revenue fell by 4% to Rs7, 707.3cr in the second quarter of the current financial year.

Dr. Reddys confirms voluntary nationwide recall of all Ranitidine products in the US Market This recall follows the USFDA’s caution note alerting patients and health care professionals that NDMA was found in certain samples of ranitidine.

Strides Pharma receives zero 483 observations for Alathur facility the facility has recently completed a significant capacity expansion and will support the growth momentum for the US business.

Oil prices slip on larger-than-expected US crude stockpiles US crude stocks rose by 4.5mn to 437mn barrels in the week ended Oct 18 vs. expectations of a gain of 2.2mn barrels, according to data from the American Petroleum Institute.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.